Feeling it this week...
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| Wed, 09-16-2009 - 9:56am |
This week is feeling really rough, and I need to vent a bit...
We've been waiting on payment for DH's last gig, which we had expected earlier this month, and my mid-month paycheck is once again late -- and I'm being told that it likely won't be in until at least Friday. I really just feel like we're in a holding pattern, and I hate it.
Because of the late paychecks, we're left with very little in our checking account, and I had to use our one credit card to purchase DH's medications last night ($55). It KILLED me to do that, even though I am going to pay that money back the MINUTE it's in our bank account. This would have been a perfect use of our e-fund...but it takes two business days to transfer that money from ING, so I'm seeing a serious flaw in that plan. The problem is, if that e-fund money was in our home bank, it would be TOO easily accessible and I'm afraid we'd spend it unnecessarily.
To top it off, my boss is pushing me to come into the office three days a week starting in October. Currently, I work from home and go into the office one day a week; DH takes care of our daughter that day. But three days is too much to have DH take care of her, as he's often in and out for work and can't be carting her around like that. Which means child care, at a cost (in our area) of about $1,000 a month part-time. Of course we can't afford that; we are still trying to catch up our mortgage, for crying out loud. I am also very unhappy with this job as it is, but it's unlikely I'll be able to find something else that allows me to be home as much (and avoid child care costs, to this point at least) and pay what I minimally need. It's really getting me down.
This debt journey really is a roller coaster, and today is just one of the troughs...I'm sure I'll be up again next week. But for now, I just need to wallow a little.
Thanks for listening.





Hugs to you.
Having a down week myself with things personal and financial.
I would rethink your efund if it takes two days to access. In a true emergency that is too long to wait. Maybe you can split the fund in half - half to the ING account and half to an account linked to your checking so you can transfer money if needed.
Hope your week improves.
I'm sorry you are having a tough week.
If people would just do what they are supposed to do when they are supposed to do it, our lives would so much easier and less stressful. The reality of the situation is a lot of people don't. I agree the efund must be more accessible, however, if it is too accessible you can find yourself dipping into it. Perhaps you can find a balance and share that information with us. I know some people on the board have savings account that is linked to their checking account in case of overdraft to avoid fees? Maybe this could work for you and I don't know what bank it is through.
Good luck, maybe next week will be better.
I'm so sorry about the belated pay.
Norma
"Patience is the best remedy for every trouble"- Plautus
so sorry about the rough week... piggybacking on Galstorelady's post, I would suggest opening a second checking account at your primary bank and then automatically depositing a certain amount into (if you can do that from your paycheck - if not, than just making a set deposit every pay period or every month).
Thanks for the support everyone -- it really does help.
I also absolutely agree that clearly, the e-fund has to be more accessible. DH and I have talked about it at length today, and reminded ourselves that we are in a far different (better?) mindset about spending these days than we were in the past. I've got to get over the fear of spending that e-fund.
At the moment, because things are so touch-and-go, it doesn't make sense to sock the money in ING or even in an attached savings account -- we're bound to be transferring the money back and forth way too much in order to "stretch" things until the next (late) paycheck comes in. (The late paycheck thing has been a chronic problem for nearly a year now.) For accounts with less than $1,500, our bank only allows three free transfers a month -- doesn't matter which direction.
For now, our e-fund is going to be embedded in our regular checking account, and counted as though it were an outstanding check we've written that has yet to clear. I keep record of our bank balance meticulously, to the penny every day, and we have been working off of what's truly available in the account rather than what's showing on the statement as available. We've also been working extremely well with the cash-only system, and almost never use the debit card anymore -- the only exception is for pre-planned and accounted for expenditures, like my occasional train ticket for work.
Despite tough times, we are still determined to build that baby e-fund as originally planned, as we both believe strongly in its necessity -- so I am feeling more confident that we can make this temporary system work.
Thanks again for the hugs and support!
Steph
Sorry you're going through this. I think keeping a baseline in the checking account is a great idea! I have mine attached to my checking in a savings. It takes a day to transfer, but I am okay with that. I have called before (Mine is a branchless bank) and they have immediately transferred it over when something went wonky so I know it can be done.
I'm sorry you are having a rough time. Keep your chin up!
Bex -
"Yesterday is history, tomorrow is a mystery, today is a gift -thats why its called the present."
Bex -